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RBI has not yet outlined its plan to supervisors at the European Central Bank (ECB), two people with knowledge of its dealings with the central bank said, making a spin-off unlikely by September. Furthermore, the approval of Russia's central bank, finance ministry and, in the event of a sale, even Russian President Vladimir Putin, will be needed before RBI acts. The ECB urged RBI not to pay a dividend this year because of its concerns over Russia, one of the people said. Austria's central bank and the ECB declined to comment. Another source said he has urged the U.S. not to pressure RBI.
Persons: Raiffeisen, Vladimir Putin, UniCredit, month's Wagner, Robert Holzmann, Christine Lagarde, Magnus Brunner, Brian Nelson, Francesco Canepa, John O'Donnell, Alexander Smith Organizations: Raiffeisen, Reuters, Austrian, European Central Bank, ECB, Treasury, Foreign Assets, OFAC, U.S, Thomson Locations: VIENNA, Russia, Austria, Moscow, U.S, Ukraine, Europe, Washington, Vienna, Soviet, Austrian, United States, Frankfurt
[1/5] The logo of Raiffeisen Bank International (RBI) is seen on their headquarters in Vienna, Austria, March 14, 2023. REUTERS/Leonhard FoegerVIENNA, March 23 (Reuters) - The European Central Bank is pressing Austria's Raiffeisen Bank International (RBIV.VI) to unwind its highly profitable business in Russia, five people with knowledge of the matter told Reuters. One person said such a plan could include the sale or closure of its Russian bank. A Raiffeisen spokesperson said that it was examining options for its Russia business "including a carefully managed exit" and that it was "expediting" its assessment, adding that it had also reduced lending in the country. HIGH STAKESIn January, the U.S. sanctions authority launched an inquiry into Raiffeisen over its business related to Russia.
[1/4] FILE PHOTO-Austria's foreign minister Alexander Schallenberg speaks during an interview with Reuters in Vienna, Austria, March 16, 2023. REUTERS/Lisa LeutnerSummarySummary Companies Foreign minister says Russia important for Europe'Part of European culture, whether we like it or not'Schallenberg defends Raiffeisen against criticismVIENNA, March 22 (Reuters) - Russia will always remain important for Europe, Austria's foreign minister said, saying that to think otherwise was delusional. Schallenberg said it was for Austria to enforce sanctions and pointed the finger at other Western banks doing business in Russia. "Austrian companies have to stick to Austrian rules, part of which are the European Union sanctions." "There are enough American banks, one with the name Bank of America, present in Russia," said Schallenberg.
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